If your due premium remains unpaid at the end of the grace period, the policy shall lapse and no life cover will be provided to you during lapse period. (life.futuregenerali.in)
«The figures are not comparable since the definition of revival and lapse period for Ulip policies differ from company to company. (indianexpress.com)
Lapsed Policy Reinstatement: If the premium due remains unpaid by the end of the grace period, the policy gets lapsed and no life cover will be provided to you during lapse period. (coverfox.com)